Family Promise of Southern Chester County

Family Promise of Southern Chester County, a nonprofit dedicated to helping families with children experiencing homelessness, will host an open house on Thursday, March 2 from 6-8 PM at its new Resource Center located at 1156 West Baltimore Pike in Kennett Square. At this exciting event, Family Promise will celebrate the generosity and support from more than 600 volunteers, congregations, businesses, and community service clubs.

“Every child deserves a home,” said Susan Minarchi, Family Promise’s executive director. “I wake up every morning determined to fulfill that promise. It’s the driving force behind everything we do at Family Promise.

“Our new Resource Center is designed to provide families with all the comforts of home until they are back on their feet. Our volunteers and supporters are the reason Family Promise is able to alleviate family homelessness in Southern Chester County.”

Exton Corporate Center

Willner Properties, a King of Prussia-based real estate company specializing in both residential and commercial properties, has announced the signing of two new leases in the Exton Corporate Center located at 102 Pickering Way in Exton.

One lease for 2,467 square feet was signed by Sekisui Diagnostics, and another for 2,755 square feet was signed by the law firm Rosenthal, Lurie & Broudy.

AMETEK

Berwyn-based AMETEK, a global manufacturer of electronic instruments and electromechanical devices, has completed the acquisition of Rauland-Borg Corporation, a provider of mission critical communication solutions for hospitals, healthcare systems, and educational facilities.

Rauland-Borg, based in Mount Prospect, Ill., was acquired for $340 million, plus a potential contingent payment of $30 million tied to the achievement of certain milestones. The company has annual revenues of approximately $160 million.

“Rauland provides AMETEK with an attractive new growth segment within the medical technology market,” said David A. Zapico, AMETEK’s CEO. “In addition to their strong growth opportunities in its core markets, we see incremental growth opportunities through acquisitions and international expansion.”

Teleflex

Wayne’s Teleflex, a global provider of medical technologies designed to improve the health and quality of people’s lives, has announced that financial results for the fourth quarter and full year 2016 will be released before the market opens on Thursday, Feb. 23.

That day, an investor conference call will be held at 8 AM. The call can be accessed through a live audio webcast on the company’s website, www.teleflex.com. An audio replay of the call will also be available on the website from Feb. 23 at 11 AM to Feb. 28 at 11:59 PM by calling 855-859-2056. The passcode is 65576607.

USA Technologies

Malvern’s USA Technologies, a payment technology service provider of integrated cashless and mobile transactions in the self-service retail market, has reported results for its second quarter ended Dec. 31, 2016.

Second-quarter highlights include:

• Total quarterly revenue of $21.8 million, a year-over-year increase of 18 percent
• 469,000 connections to ePort service, representing a year-over-year increase of 27 percent
• Added 500 customers to achieve record 11,900 total customers compared to 10,625 as of a year ago, a year-over-year increase of 12 percent
• Quarterly record license and transaction fee revenue of $16.6 million, a year-over-year increase of 22 percent

Liberty Property Trust

Malvern-based Liberty Property Trust, a leader in commercial real estate, has reported fourth-quarter and full-year results from 2016. Net income available to common shareholders for the fourth quarter of 2016 was $195.4 million, or $1.33 per diluted share, compared to $81.7 million, or $0.55 per diluted share, for the fourth quarter of 2015.

For the year ended Dec. 31, 2016, net income available to common shareholders was $356.8 million, or $2.43 per diluted share, compared to $239.5 million, or $1.61 per diluted share, for the previous year.

Net income for the fourth quarter and full year 2016 reflects gains on sale, net of impairments, of $189.7 million and $215.4 million, respectively, compared to $41.9 million and $82.1 million, respectively for the same periods in 2015.

Children’s Beach House

Children’s Beach House, a nonprofit in Lewes, Del., that helps children with special needs reach their highest potential as functioning members of their families and the communities, has appointed West Chester resident Timothy J. Suchanick to its board of directors.

Suchanick has an MBA from Villanova and has been a financial professional for 15 years, focusing on financial valuation and corporate strategy. Currently a senior finance manager in business development with Citi, he leads the financial analysis for new co-branded credit card acquisitions and proprietary distribution deals.

Omega Flex

Kevin R. Hoben, President and CEO of Exton’s Omega Flex, announced that the company’s net sales for the full 12 months of 2016 were higher than the previous year, increasing to $94,051,000 from $93,278,000. Net sales for the final quarter ended Dec. 31, 2016 decreased 1.8 percent compared to the same period in 2015.

Omega Flex’s net income for 2016 was $14,377,000, versus $15,788,000 during the same period the previous year, decreasing 8.9 percent. For the quarter, net income was 12.9 percent lower than the previous year.

The company increased its sales volume over the prior year, continuing a steady growth rate over the last several years. However, the company’s net sales and net income were dampened by the effects of currency exchange rates stemming from its British subsidiaries.